Dollar on defensive, Asia shares make fresh highs

The dollar stayed on the defensive on Wednesday as investors wagered any further tightening in the United States would be slow at best, while optimism on China’s economy underpinned Asian shares and commodities.

In Asia, investor sentiment has also been supported by a raft of upbeat economic news out of China. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.16 percent in early trade at its highest since April 2015.

Australia’s main index climbed 0.7 percent, but the strength of the yen nudged Japan’s Nikkei down 0.1 percent.